can be stressful, especially when accounting is not your forte’.
Steve has always taken over the process, telling us exactly what to do
and what not to do and has made the process very smooth. I highly recommend
using Steve as a Mortgage Broker...
- Greg & Nancy Doherty
your mortgage is with GE Money also known
as TEA Custodians or AMS. And
you feel like this gent...you're not
getting the service you want – or
you're looking for a better deal - refinancing your GE Money
mortgage can be an option for you.
Generally we can get a reduced interest rate and better more flexible mortgage structure with repayments to suit you - not the lender.
ADVOCO's principal, Steve McGowan understands and keeps up to date with the ever changing lending policy of each of the banks. This allows him to get the right home loan for you and your family.
Steve also has
an ability to be able to see "outside the square" when it comes
to mortgages. "Finding a solution for difficult home loans is the
most rewarding part of the job." says Steve.
The highlight of his career was helping five families have their home returned to them in a illegal "buy back scheme." For this Steve was publicly thanked by Kevin Milne on TV One's Fair Go show. For personal trusted service call Steve today on 0800 ADVOCO (0800 238 626)
Money pulling the pin on NZ market
7:20PM Friday Oct 24, 2008
GE Money is withdrawing from the home loan, car finance and small business market in New Zealand.
The finance company is stopping new mortgage lending and lending on vehicles and will lay off 80 staff, TV3 reported. Existing customers will continue to be serviced. The company will cease offering home loans through third parties such as brokers and end its motor finance and small business finance in Australia and New Zealand, The Age newspaper reported on its website.
The company has 500 staff in New Zealand, according to its website. GE Money was first established in New Zealand in 1982. The move is a response to the global financial market meltdown, which has increased funding costs for financial institutions.
GE Money is downsizing its business in both Australia and New Zealand and 335 staff are expected to be axed, The Age reported. Victoria, where GE Money has its head office, will bear the brunt of the lay-offs.
"This is a result of the extreme volatility and greatly increasing cost of funds on the global and local wholesale markets," GE Money said. "This was a very difficult decision to take. However, we will now be able to better focus on those parts of the business that are our core strengths and in which we have scale," GE Money's Australia and New Zealand chief executive, Mike Cutter said.
GE's Australian motor finance business is one of the biggest in the country, with Holden, Ford, Toyota, Mazda and Audi among the many brands financed.
GE Money is part of giant GE, which reported earnings of US$4.5 (NZ$7.84) billion in the third quarter. It is in the non-bank sector, which has been struggling. - NZPA
Maybe your mortgage is with one of the many home loan lenders that have 'packed their bags' and left the market such as; Argosy, Bluestone Mortgages, Freedom Mortgages, GE Money (TEA, AMS) Property Finance, United Home Loans, Pacific Home Loans, Pioneer or Wizard Home Loans, we may be able help you refinance back to a bank.
In May 2011, GE Capital has sold its $5 billion Australian and New Zealand residential mortgage book to Pepper Home loans in a deal that includes a total of $1 billion worth of mortgages in New Zealand. The new Pepper Home loans mortgage book includes; Argosy, Freedom Mortgages, GE Money (TEA Custodians, AMS), United Home Loans, Pacific Home Loans, and Wizard Home Loans.
Click on the home loan providers logo for more information
We eat and breathe bank lending policy, with our 24 years of banking and broking experience we can give you the advice you need to get you into the right home loan.
Depending on your home loan contract GE Money mortgages break fees may apply.
Call us on 0800 ADVOCO (0800 238 626) or email us.